RECOMMENDATIONS FOR TILAPIA CULTURE AND RISK MANAGEMENT IN NIGERIA

In order to reduce the disruption of the production process and enhance profitability, investors must be informed about the meteorological conditions of the site and the climatic conditions of the locality, the chances of certain incidences such as flooding, high tides and incidences of drought. Efforts must be intensified at monitoring and patrolling farms regularly to check the menace of poachers and saboteurs.

To reduce the liability exposure of the farm, serious attention must be accorded special areas of the venture such as the incidence of pollution from other neighbouring industries. Farmers should seek for adequate bio-technical information from centers of research and development near to them, hence a reduction in the risk of technical ignorance.

Government should encourage tilapia farmers by evolving a number of non-fiscal incentives, which may include grants for development, government equity shareholding, government insurance, leasing of facilities and compensation schemes, and there may also be subsidies for construction, equipment, supplies, labour and price support. Credit on advantageous terms through quasi-government credit schemes, special loans with deferred repayment schedules and loan guarantees should be made available.

Lending institutions must encourage tilapia farmers by ensuring that credit is available. Since various changes in government, which is a common feature in Nigeria, are risks to the utilization of capital by tilapia farmers, a stable polity must be ensured. Such stability will boost the development of the industry through a number of valuable roles e.g. market services (information, intelligence reports, promotions etc) and technical services (research and development, extension, training schemes etc).

Tilapia farmers must organize themselves into cooperative associations in order to enhance easy acquisition or access to the key natural resources of water and adjacent land. It is important that farmers must ensure high quality products to avoid the risk of losing their current and potential customers. Their products must leave the farms in perfect condition for post-harvest handling (slaughtering, processing, packaging and transportation) in perfect condition.
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